Steel Stocks

Nifty Metal index climbs 1.8%; Tata Steel, Nalco, Hindalco shares lead gains on positive global cues

Global cues turned supportive for capital-intensive sectors such as steel, with expectations of a U.S. Federal Reserve rate cut this month. The European Union’s reported plan to raise tariffs on imports may end up helping Tata Steel rather than hurting.

Steel stocks rise up to 2.7% as Nomura bullish on sector on China production cuts, strong domestic demand

Nomura added that robust consumption, restricted imports and improving price dynamics will likely boost India's steel industry

Steel stocks fall up to 1.6% as JM Financial expects Q2 earnings of steel companies to be subdued

The decline in steel prices, increased supply from China, and seasonal headwinds are expected to weigh on realisations and overall performance

Steel stocks rise up to 3.7% as Chinese mills curb production

Margins of Indian steel makers had been under risk earlier this year when Chinese steel companies dumped cheap steel in the domestic market amid higher tariffs on China

Tata Steel, SAIL, other steel stocks surge up to 4% after China announces plans to cut steel output

The latest move by China is expected to reduce the dumping of cheap steel into the Indian market, which would act as a major positive to the Indian steel companies.

Short Call | High rates and deep bites; mixed outlook for steel; HDFC AMC, Vodafone, Gujarat Gas in focus

Given the weakness in the rupee, the RBI is unlikely to cut rates before the Fed does. If crude prices continue to rise at the current pace, it is bound to feed into inflation

SAIL gains after government junks Salem plant privatisation plan

Though multiple expression of interests were received and bidders shortlisted but none wanted to proceed with the transaction, the government has said

Steel stocks to remain dented through 2024 amid demand, valuation woes: Morgan Stanley

Morgan Stanley's price target for major steel stocks, Tata Steel, JSW Steel, Steel Authority of India and Jindal Steel and Power, reflects the potential for downside from current levels.

SAIL declines on profit-booking after swinging into black in Q2

The company’s total income jumped 12 percent on-year to Rs 29,858.19 crore in Q2FY24, while expenses were flat at Rs 27,768 crore

Why super investor Anil Goel is bullish on sugar, textiles, bearish on steel

To understand steel business, one has to first understand China, says Goel. In China, steel price is $540 and India is able to import it on paying 8 percent duty. Indian manufacturers are selling at around $630-640 and China at around $540

Short Call | Tough time for chemical stocks, vanishing paper profits, and UTI AMC

Chemical stocks have struggled in the recent market rally but, unlike the underperforming IT sector where a section of the market feels it is time to start looking for bargains, investors aren’t sticking their neck out in the chemicals space yet